Tezzaron Semiconductor Corp. plans to acquire the semiconductor manufacturing building in Southeast Austin formerly run by SVTC Technologies LLC, which recently announced it would close the center and lay off 105 workers this month.

Naperville, Ill.-based Tezzaron will run the building at 2706 Montopolis Drive and buy chip production equipment for an undisclosed amount in a deal that involves Tezzaron taking on all employees who were scheduled to be let go, company officials said. The building is owned by the University of Texas System.

The transaction is expected to close within two weeks, when semiconductor technology development and wafer fabrication will continue normal operations at the Austin center. Tezzaron also plans to assemble its own three-dimensional semiconductor devices in Austin.

“This is the only facility of its kind on the continent. It supports product innovations for semiconductors, life sciences, clean energy, aerospace and defense. When we became aware it might be shut down, we knew we had to work quickly to retain this highly valuable group of people and capabilities. Its closure would have forced many customers to seek off-shore providers,” Tezzaron CEO J.T. Ayers said in a news release.

Tezzaron — which was founded as Asic Designs Inc. but changed its name in 1999 — develops three-dimensional integrated circuits. It employs 20 people in Illinois, where it plans to double staff over the next few months.

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